Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 21.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 333,338 shares of the basic materials company's stock after selling 89,143 shares during the period. Allianz Asset Management GmbH owned approximately 0.22% of Steel Dynamics worth $41,694,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of STLD. Financial Gravity Asset Management Inc. purchased a new stake in shares of Steel Dynamics in the 1st quarter valued at $25,000. Grove Bank & Trust lifted its holdings in shares of Steel Dynamics by 194.7% in the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after buying an additional 183 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Steel Dynamics in the first quarter worth about $36,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the first quarter worth about $38,000. Finally, Investment Management Corp VA ADV purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $40,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In other news, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the sale, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the sale, the senior vice president directly owned 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

STLD has been the topic of several recent research reports. Morgan Stanley upped their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. upped their price target on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and a consensus target price of $149.33.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD traded down $3.89 during midday trading on Thursday, hitting $126.83. The company's stock had a trading volume of 1,298,710 shares, compared to its average volume of 1,670,615. The company has a market cap of $18.83 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The business's 50 day simple moving average is $131.55 and its 200 day simple moving average is $127.82. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.38 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $2.72 EPS. Steel Dynamics's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Monday, June 30th. Steel Dynamics's payout ratio is currently 29.15%.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.